William H. Lively, Jr

October 2019 Archives

Understanding when Chapter 7 bankruptcy may be a good option

When Texans are facing overwhelming debt, they are frequently unaware of what to do next. Many might be reluctant to consider personal bankruptcy. There are common misconceptions about the process. It is imperative to know that it can be a useful strategy to clear debt and start over.

Student debt may be discharged in bankruptcy in some cases

Student loans are generally not dischargeable in bankruptcy, but there are circumstances under which a person may be able to have them discharged. For people in Texas who are struggling to make their student loan payments, the most common bankruptcy options are Chapter 7 bankruptcy and Chapter 13 bankruptcy. In order for student loans to be discharged, the bankruptcy petitioner must establish that repayment would constitute an undue hardship. The Department of Education has made efforts to create a concrete definition of the term, but undue hardship is still decided on a case-by-case basis.

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William H. Lively, Jr

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William H. Lively, Jr
432 S Bonner
Tyler, TX 75702

Phone: 903-920-0008
Phone: 903-593-3001
Fax: 903-595-3715
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